Tuesday, March 9, 2021
On 3 March 2021, Chancellor Rishi Sunak delivered the UK Budget 2021 (the Budget). Understandably, the Chancellor’s focus was on setting out the road map to the United Kingdom’s economic recovery from COVID-19. The Budget, however, was also an opportunity for the government to unveil spending plans to match its ambitious climate target: to reach net zero by 2050.
Several promising green economy measures were announced, as discussed below.
GREEN FINANCE
Some of the most-welcome measures announced were those related to sustainable finance.
The remit of the Bank of England’s Monetary Policy Committee was updated to include a duty to support the government’s net zero ambition - a significant move that should help to align monetary policy with sustainable growth. From its next scheduled round of investments in the fourth quarter of 2021, the Bank of England will adjust its approach to buying corporate bonds to account for the climate impac
| UPDATED: 10:38, Fri, Mar 5, 2021
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The Government has proposed for NHS staff to receive a one percent pay rise next year as they warn anything above that amount would require “cuts” to pay for it. BBC journalist Fiona Bruce posed the issue to Business Secretary Kwasi Kwarteng during an episode of Question Time as the pair clashed over the decision. The move from the Government has angered health unions who say that it is an “insult” to staff who have worked hard during the pandemic.
Market Insights Podcast (Episode 172)
March 5, 2021SharePrint
Jonny Hart looks back on the week’s business and markets news with OANDA Senior Market Analyst Ed Moya in New York. This week they discuss the US nonfarm payroll report, Fed Chair Powell’s stance with the recent rise in bond yields, the OPEC+ shocking decision to extend production cuts, and the UK budget.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Thursday, March 4, 2021
The UK has now been in lockdown, on and off, for the best part of a year. With the COVID-19 vaccination programme now in full swing in the UK, and hopefully with light at the end of tunnel, attention has inevitably turned to the question of “how are we going to pay for it all?”. Sweeping and significant tax rises have been feared and, following last year’s Office of Tax Simplification (OTS) review into capital gains tax (CGT), it was thought that an increase in CGT rates could well be on the cards.
But in Rishi Sunak’s budget announcement yesterday, aside from the deferred increases in the rate of corporation tax (discussed below), there were no such immediate tax rises. At least for now, the government’s predominant short term focus appears to be on policies intended to stimulate growth and investment – highlighted by the new super deduction for capital investment costs.
Currency markets remain in hibernatio - MarketPulse marketpulse.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marketpulse.com Daily Mail and Mail on Sunday newspapers.